Tencent Music Entertainment Group (TME) Shareholders Harmed When Goldman Sachs Group and Morgan Stanley Sold Shares
A Tencent Music Entertainment Group (NYSE: TMR) shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Tencent Music securities between March 22, 2021 and March 29, 2021, for violations of the Securities Exchange Act of 1934.
According to the complaint, Goldman Sachs Group Inc. and Morgan Stanley sold Tencent Music shares while in possession of material non-public information. Specifically, Goldman Sachs and Morgan Stanley knew Archegos Capital Management would need to fully liquidate its position in Tencent Music based on margin call pressures. Goldman Sachs Group and Morgan Stanley sold billions worth of Tencent securities with this knowledge, sending Tencent stock into a tailspin and avoiding billions in losses. When the market learned the truth, investors suffered damages.
If you purchased shares of Tencent Music Entertainment Group (TME) between March 22, 2021 and March 29, 2021, you have until December 27, 2021, to ask the court to appoint you lead plaintiff for the class.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.